Arbitration panel set up in Gurgaon to settle realty disputes

Gurgaon, Nov 19 (IANS) The district administration on Thursday set up the Gurgaon Arbitration Council (GAC) to speedily resolve pending real estate disputes, a senior official said.

Under the Gurgaon Deputy Commissioner T.L. Satyaprakash’s initiative, a website — www.gurgaonadmin.com — was also launched on Thursday to facilitate the affected parties.

Satyaprakash said the website would enable affected parties to reach out to the council to facilitate a harmonious solution to the disputes through the arbitrator.

The arbitration panel would work in close association with REDCO Haryana (Real Estate Development Council Services).

A number of real estate projects were launched in the last decade in the millennium city but remained incomplete due to various reasons, including slowdown in the reality sector and laxity on part of promoters. This has led to numerous disputes between the developers and customers who invested in these projects.

Allottees in these projects have time and again approached the Gurgaon district administration to intervene and get these matters resolved.

Satyaprakash said the Gurgaon Arbitration Council, though informal, was in furtherance of the steps taken by the Allottees Grievance Redressal Forum (AGRF) working under his chairmanship in the wake of a state government order.

“Our city cannot progress unless the real estate sector is hassle-free. The forum could not help resolve all disputes. As many as 122 disputes are still pending with it. Since there is no scope of arbitration at AGRF, the district administration in association with REDCO has launched the Gurgaon Arbitration Council to ensure that both investors and developers get a platform to resolve their disputes,” the deputy commissioner said.

Col. Prithvi Nath, vice president of REDCO, said: “The arbitration council is a path-breaking development. Once it is a success here, we will replicate the model in other districts of Haryana and also assist other states in achieving a congenial atmosphere in the real estate sector.”